In a recent development, Dada Olusegun, Special Assistant to President Bola Tinubu on social media, has categorically refuted claims suggesting that the Central Bank of Nigeria (CBN) intends to delist prominent money transfer banks, including Opay, Kuda, and Moniepoint, from transfer channels.

Some reports had indicated that the Nigeria Inter-Bank Settlement System (NIBSS) issued a directive to banks, highlighting concerns about the inclusion of non-deposit-taking financial institutions, such as Switching Companies, Payment Solution Service Providers, and Super Agents, as beneficiary institutions on the bank’s NIP funds transfer channels. This allegedly violated CBN guidelines on electronic payment.

The directive emphasized that entities like switches, PSSPs, and SAs, although capable of processing outward transfers as inflows to banks, are not permitted to receive inflows due to licensing restrictions that prohibit them from holding customers’ funds.

However, responding to the speculations, Olusegun took to Twitter on Thursday, December 7, to dismiss the report as false. He urged the public to refrain from spreading misinformation, emphasizing its potential to incite panic and negatively impact businesses.

Olusegun further encouraged individuals to seek clarification on government policies before making comments, stating, “The misinformation making rounds about Opay, Moniepoint, Kuda, and many other banks being delisted as fund transfer channels is another reason why individuals should seek understanding of policies before making comments. Glad that all the banks are starting to respond by themselves.”